St. Gallen geothermal project receives public approval for US$164m loan
In a public vote the population of St. Gallen voted with more than 80% of the votes for a loan of US$164m for a geothermal power plant project and the extension of the local district heating system.
In a public vote, the Swiss city of St. Gallen received more than 80% approval from its population for a loan of CHF159m (US$164m). This already happened in late November last year, but means that drilling can now start this year.
The geothermal power plant is planned to be built in the West of the city. In 2011 the drilling pit will be prepared and one of the two planned wells will be drilled in the fall of 2011.
The project currently chooses a drilling contractor, so sources close to the project.
With the approval for the loan, the citizens also approved an extension of the district heating system int he city.
There are definitely some interesting news coming from Switzerland, with the Swiss Axpo AG recently acquiring a part in a German geothermal project in Bavaria, and some other geothermal players exploring geothermal growth in the country.